Draig Therapeutics Ltd., a rising star in neuropsychiatric drug development, has closed a $140 million Series A financing round, the company announced Wednesday, marking a monumental leap toward revolutionizing treatments for severe depression.
The financing, led by New York-based Access Biotechnology, positions Draig among the most heavily backed biotech startups in Europe this year. The round drew further support from SV Health Investors, Sanofi Ventures, and London’s ICG, forming a formidable alliance of scientific vision and investment firepower.
Born of Academia, Fueled by Innovation
A spinout from Cardiff University, Draig was launched in 2024 through a joint effort between the university’s Medicines Discovery Institute and SV Health. With ICG and SV Health providing early seed capital, the company has evolved from an academic initiative into a clinical-stage disruptor with global ambitions.
Covington & Burling LLP served as legal counsel to Draig, with a team led by partner Ben Land-Maycock and special counsel Katy Knight guiding the transaction.
